Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE INFORMATION

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EARNINGS PER SHARE INFORMATION
 12 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
EARNINGS PER SHARE INFORMATION

NOTE 9 - EARNINGS PER SHARE INFORMATION

 

The calculation of the basic earnings per share is based on the following data:

 

  Year ended
  March 31, 2012   March 31, 2011
       
Net loss from continuing operations $ (23,968,164)   $ (15,134,097)
Net income (loss) from discontinued operations (115,248,057)   20,015,870
       
Basic weighted-average common shares outstanding 55,787,554   53,284,666
       
Basic loss per common share from continuing operations $ (0.43)   $ (0.28)
       
Basic income (loss) per common share from discontinued operations $ (2.07)   $ 0.38
       
Total basic income/(loss) per common share $ (2.50)   $ 0.09

 

Options and warrants were not included in the calculation of

earnings per common share for the period ended March 31, 2011, as the effect of their inclusion would be anti-dilutive.

 

 

The table below provides total potential shares outstanding, including those that are anti-dilutive, at each balance sheet date:

 

  March 31, 2012   March 31, 2011
Shares issuable under common stock warrants associated      
   with the convertible notes payable -   30,700,000

 

The warrants outstanding at March 31, 2011 were cancelled with the redemption of the associated Senior Notes payable. As of March 31, 2012 there were no options or warrants outstanding.